Isio sees revenue surpass £150 million mark

29 April 2024 Consultancy.uk 2 min. read
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Isio has maintained its reputation as one of the fastest growing pensions, wealth and investment advisory businesses in the UK, with a year of strong revenue growth. The firm enjoyed 18% expansion across its core business, as its annual revenues pushed past £150 million.

Wealth and investment advisory Isio started life as a carve out from a Big Four firm, having gained independence from KPMG in early 2020. This meant even as a new company, the firm started out larger than most independent firms – with more than 1,000 clients, ranging from mid-sized companies to FTSE 100s. 

In the four years since it’s Exponent-backed separation, Isio has sought to rapidly build on this early momentum. This has included a number of acquisitions – including a move for Big Four rival Deloitte’s 200-strong pensions advisory business. Now, the firm’s latest financial results have shown that these additions have paid dividends in a big way.

Isio sees revenue surpass £150 million mark

The results show that Isio has more than doubled revenue, profit and headcount over its time as an independent challenger in the investment consulting industry. Reporting its financial year, which ended at the close of September 2023, group revenue on an annualised basis exceeded £155 million. 

Meanwhile, on a reported basis, which only includes four months of revenue from the Deloitte division it acquired – now rebranded as Isio Total Rewards and Benefits – group revenue was still £135.3 million. This also points toward strong organic revenue growth of 18% across Isio’s core business, including its actuarial and consulting, pensions administration and investment advisory lines.

Speaking on the results, Andrew Coles, Isio’s CEO, commented, “Four years into our journey, we are perfectly placed to continue to capitalise on the scale, expertise and culture that we have built here at Isio. This is translating into clients and talented people approaching us as a fast growth challenger business they want to work with or for. We are excited about our future and our strategy is to continue to build a market leading pension and benefits, investment and wealth planning consulting firm, known for thinking differently.”

Coles added that the “strong results” were a testament to the faith Isio’s clients placed in the firm – and had enabled the firm’s headcount to continue to expand rapidly. Isio now boasts more than 1,100 professionals across its teams – 200 of which arrived from the acquisition of Isio Total Rewards & Benefits. This included seven new partners.

Isio has also continued to invest in its people, though, promoting five new partners during the calendar year. In addition, Isio welcomed over 180 new experienced external hires, 70 graduates, apprentices and trainees as they invest for the future. This helped Isio spread into a 10th UK office, with its latest location in Belfast.